Just as indicated, Pak Suzuki has announced to increase the prices of its cars (sparing Cultus) effective from the 1st of January 2020. The increase in price will be ranging from Rs 49,000 to up to Rs 90,000 depending on the models.
|Old Price (PKR)||New Price (PKR)||Difference (PKR)|
|Wagon R VXR||1,540,000||1,605,000||65,000|
|Wagon R VXL||1,625,000||1,695,000||70,000|
|Alto VXL AGS||1,518,000||1,598,000||80,000|
|Swift DLX Nav||1,905,000||1,995,000||90,000|
|Swift DLX A/T Nav||2,050,000||2,140,000||90,000|
According to Pak Suzuki spokesperson Shafiq Ahmed Sheikh, the company has been posting losses since the last four consecutive quarters, due to which the company has been trying to make “moderate” price increase as possible despite massive cost rise caused by rupee depreciation against the dollar and incidence of high taxes and duties.
Related: Pak Suzuki Increases Jimny Prices
Surprisingly however, there has been no additional duty or tax imposed by the government while the Rupee has actually recovered by 5.5% during the last 4 months. Car sales are likely to regain momentum from the beginning of next year, thus the company believes price increase will help dampen its declining profits.
However with already declining sales, such a massive increase in prices may further dent the sales of Suzuki which is already facing a 68% decline (sparing Alto 660cc). After Pak Suzuki, other local automakers are also expected to increase the prices of their vehicles effective from New Year.